07/11/2007Hudson Valley Community College 2007-08 Budget Highlights

The 2007-08 operating budget for Hudson Valley Community College, as approved by the college's Board of Trustees on Thursday, May 24, totals $87.1 million. The budget was approved tonight by the Rensselaer County Legislature.

Enrollment

Enrollment for fiscal year 2007-08 is projected to be 8,770 full-time equivalent students (FTE).

Tuition

This budget increases tuition by $100; tuition is being recommended at $1,400 per semester ($2,800 annually) for all full-time students who are New York State residents and $116 per credit hour (an increase of $4 per credit hour) for part-time, in-state students.

This budget increases tuition for out-of-state residents by $150; tuition is being recommended at $4,200 per semester ($8,400 annually) and $348 per credit hour (an increase of $12) for part-time, out-of-state students.

This is the first increase in tuition in two years. Even with this increase, it is expected that Hudson Valley will continue to be one of three community colleges in the state with the lowest tuition.

The college is keenly aware that, for many of its students, even an increase of $100 can present a challenge. College Financial Aid staff educates students about available financial aid and the financial aid application process, including holding workshops throughout the course of the year and helps students file their Free Application for Federal Student Aid online.

In 2006-07, 5,816 full- and part-time students received financial aid. A total of $23.4 million in aid was disbursed to Hudson Valley students in 2006-07.

In addition, the college's charitable foundation administers 128 scholarships – ranging from $200 to full tuition – to defray the cost of education at Hudson Valley. The foundation disburses more than $285,000 in scholarship aid to Hudson Valley students annually.

State Aid

State aid is budgeted at $23.9 million and is funded at a rate of $2,675 per FTE, which is an increase of $125 per FTE.

County Revenue

The college is not requesting any additional funding support from its sponsor, Rensselaer County. The sponsor contribution will remain at $3,138,900 for the eighth consecutive year.

Personnel

The 2006-07 budget contains five new positions: two custodians (for the college's new Administration Building, which opened at the end of June); two campus security officers; and one technical assistant in the Criminal Justice program.

New Academic Initiatives

This budget further expands the college's academic offerings. Key new initiatives for the 2007-08 academic year include:

An associate's degree in Architectural Technology. This new program complements the college's Civil Engineering Technology program, which has long offered electives in this area of study.

An associate's degree in Biological Science. This academically rigorous program is an ideal start for students who wish to pursue a career in medical science, dentistry, veterinary science, pharmacy or scientific research.

An associate's degree in Criminal Investigation. This program is designed for students who wish to enter the law enforcement field immediately after graduation. It complements the college's Forensic Science Studies program, which prepares students exclusively for work in a laboratory environment.

An associate's degree in Gallery Management. This program builds upon the college's strong Fine Arts program and is designed for students who have a keen interest in art, but not necessarily a desire to become an artist.

An Insurance option within the Business Administration associate's degree program. This option provides students interested in a career in the insurance industry with a strong business foundation, an understanding of the key principles of the insurance industry and a skill set that will prepare them for a new career or advancement in their current career.

A Retailing option within the Marketing associate's degree program. This option, designed for individuals who want to own their own business, prepares students for retailing positions such as management, merchandising and buying.